Xero chief's Silicon Valley pay packet faces shareholder showdown
US-based Singh Cassidy is one of the ASX's highest-paid executives after Xero's board renegotiated her salary in December, taking her target remuneration to $US15.2 million ($23.5 million), on top of a one-off grant of 575,000 options worth $US26.5 million on the day they were issued.
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The Age
8 hours ago
- The Age
ASX finishes higher as banks, retailers rise; James Hardie shares plummet
Welcome to your five-minute recap of the trading day. The numbers The Australian sharemarket finished higher on Wednesday after a flurry of company earnings results as gains by the big four banks and the nation's retailers more than offset a plunge by building materials maker James Hardie and losses by energy stocks and CSL. The S&P/ASX 200 closed up 21.80 points, or 0.3 per cent, to 8918, having shrugged off early wobbles by lunchtime. Seven of its 11 industry sectors advanced, with the banks, consumer discretionary stocks and real estate investment trusts leading the gains. The index had lost 0.7 per cent on Tuesday, its steepest drop since August 1. The Australian dollar slipped 0.1 per cent to US64.45¢. The lifters The big four banks all posted solid gains. Commonwealth Bank, the nation's biggest and the biggest stock on the ASX, rose 0.8 per cent. Westpac added 2.5 per cent, NAB climbed 3.7 per cent and ANZ was up 2 per cent. Financial stocks make up almost a third of the entire ASX, meaning their performance has a major influence on the market overall. Loading Consumer discretionary stocks also advanced. Wesfarmers, owner of Kmart and Officeworks, rose 2.6 per cent, electronics retailer JB Hi-Fi was up 2 per cent and furnishing chain Harvey Norman added 1.2 per cent. The Lottery Corp jumped 7 per cent after revealing $749.3 million in operating full-year earnings, down 9.4 per cent from its record jackpot year in 2024.
Perth Now
8 hours ago
- Perth Now
Popular burger chain's next Perth location revealed
Hip-hop inspired burger chain Milky Lane has announced Willeton's Southlands precinct will be the home of its next west coast venue, confident the State's appetite for oversized snacks and decadent desserts is far from satisfied. Set to be unveiled on August 22, it will mark the brand's fifth active WA location since it launched nationally in 2016. Entering the State via Elizabeth Quay in 2022, the chain has since expanded to Curtin University, Currambine and Bunbury. 'Western Australia has embraced us in a way that's truly unmatched,' Milky Lane co-founder Christian Avant said. 'There's a genuine appetite here for what we do, weird big flavours, bold vibes, and unforgettable experiences. Southlands felt like the perfect next move. It's a growing precinct, and we see real potential to build something that serves the local community while keeping the party going.' Milky Lane burgers match those with large appetites. Credit: Milky Lane Milky Lane's only local regret has been its February 2025 venture up the coast into Karratha, with the brand and Pilbara-based Stardeck Group recently announcing their regional franchise agreement would be terminated later this month. Ray Stauss, WA Area Developer for Milky Lane, said its next local venture would not just benefit the community through the recruitment of dozens of workers, but by way of its cultural footprint. Milky Lane is known for its adventurous menu. Credit: Milky Lane 'The choice of Southlands Willetton is no accident. As one of Perth's rapidly evolving lifestyle hubs, Southlands brings together diverse demographics, families, students, and nightlife lovers alike, making it a prime destination for Milky Lane's signature blend of food, music, and culture,' Mr Strauss said. 'Guests can expect iconic street-art murals, tailored to the local scene, live DJ sets spinning hip-hop and R&B tracks into the night, insane burgers and next-level desserts, and signature cocktails made to impress and share. With Willeton locals to be treated to signature favourites, Milky Lane has promised a few exclusive menu items will also be unveiled.
ABC News
8 hours ago
- ABC News
The businesses abandoning America over US tariffs
Australian businesses are halting exports to the US, as the Trump administration closes a tax loophole for low-cost goods entering America on August 29.
